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Note 7 - Other Real Estate Owned
 9 Months Ended
Sep. 30, 2016
Notes to Financial Statements  
Real Estate Owned [Text Block]
Note
7
.
Other Real Estate Owned
 
The activity within Other Real Estate Owned (“OREO”) for the three and nine months ended September 30, 2016 and 2015 is presented in the table below. There were no residential real estate loans in the process of foreclosure as of September 30, 2016.  For the three and nine months ended September 30, 2016, proceeds on sales of OREO were $552 thousand and $3.6 million, respectively. For the three months ended September 30, 2016, four OREO properties were sold, one property was sold for a net gain of 94 thousand and three properties were sold at their carrying value. For the nine months ended September 30, 2016, six OREO properties were sold for a net gain of $657 thousand.
 
 
 
  
Three Months Ended
    
Nine Months Ended
  
(dollars in thousands)
  
September 30, 2016
    
September 30, 2015
    
September 30, 2016
    
September 30, 2015
  
                                 
Balance beginning of period
   $ 3,152     $ 10,715     $ 5,852     $ 13,224  
Real estate acquired from borrowers
     2,500       225       2,500       1,725  
Valuation allowance
     -       -       (200 )     (750 )
Properties sold
     (458 )     (988 )     (2,958 )     (4,247 )
Balance end of period
   $ 5,194     $ 9,952     $ 5,194     $ 9,952